Andreessen: Change carried interest tax

Venture capitalist Marc Andreessen believes that carried interest should be treated as ordinary income, according to comments made this morning on CNBC’s Squqak Box. He is the latest in a small, but growing number of influential VCs who agree with President Obama that they are paying too little tax on investment profits derived from third-party capital:

“My personal view is carried interest should be treated as ordinary income. It’s a fee for service. An incentive fee on somebody else’s capital… I would favor reforming it.”

It’s worth noting, however, that Andreessen’s support of Obama’s proposed carried interest change does not extend to an endorsement of Obama as Commander-in-Chief. According to Federal Election Commission records, Andreessen has donated $100,000 to Restore our Future, a SuperPAC supporting Romney. He says that he is now firmly a Republican, after having historically backed candidates and organizations of both parties.